Intersil CEO Discusses Q2 2011 Results - Earnings Call Transcript

Intersil CEO Discusses Q2 2011 Results - Earnings Call Transcript

We are now leveraging our advance power conversion architectures developed for the PC market and producing parts aimed at the performance-intensive infrastructure market. Switches, routers, base stations, servers, and network attached storage, all have similar power conversion requirements that can be addressed by our growing portfolio of IC and module-level of products.

Cloud computing and virtualization will continue to drive strong growth in the communications market. During the second quarter, we completed our transition to add [inaudible] as our single global distributor. This carefully orchestrated process went very smoothly and is already paying substantial dividends. For instance, in North America, the total new distribution opportunity dollars recorded in Q2, more than doubled from those in Q4. The additional resources and forces at focus at AppNet will result in significant growth in the coming quarters as those opportunities turn into revenue dollars.

We’re very pleased with our performance during the second quarter having generated over $45 million in free cash flow. We are committed to returning shareholder value and as a result, our Board of Directors has authorized a quarterly dividend of $0.12 per share of common stock.